Canadian Automotive Finance Blog

How to Get an Auto Loan as a Non-Permanent Resident of Canada Yes, it may be possible to finance a vehicle in Canada without permanent resident status. Your immigration status, Canadian income, credit history, permit expiry date, down payment and the vehicle you choose can all affect your financing options. Moving to Canada comes with […]

  With Today’s Gas Prices, Is It Time to Finance an Electric or Hybrid Vehicle? With fuel prices putting more pressure on Ontario household budgets, an electric vehicle, hybrid, or plug-in hybrid may be more affordable to get into than you think. Here is how to compare your options and finance the right vehicle for […]

Trading in a Broken Vehicle When You Still Owe Money Key Takeaways A damaged vehicle may still have trade value. Disclose its mechanical problems before requesting an appraisal. Negative equity is the difference between your loan payout and trade value when the payout is higher. A lender may allow that shortfall to be included in […]

EV Financing Options in Ontario for Burlington Drivers Compare EV loans, leasing, used EV financing, credit options and Canadian incentives to find a payment plan that fits your budget.   Your main EV financing options are a dealership-arranged loan, a bank or credit union loan, and a lease. Depending on your circumstances, you can also […]

The 84-Month Loan Trap: Why Long Terms Make GAP Coverage Essential An 84-month car loan can make a vehicle payment look more manageable, but the slower debt payoff can leave you exposed to negative equity for years—making GAP coverage an important protection to evaluate. For drivers across the Greater Toronto and Hamilton Area, vehicle affordability […]